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mircea_popescu: danielpbarron you're new here. why not read the logs for a while and ask q after ?
mircea_popescu: doubt we're that far yet, but i can appreciate your point in principle.
mircea_popescu: if we don't have our own cpas, and our own fucking missiles, we'll have trouble.
mircea_popescu: it's bad. technology has never nor will it ever replace people.
mircea_popescu: ThickAsThieves the problem is that people who are actually qualified to do this stuff do not wish to do it, because they were qualified by fiat and wish to die in fiat.
mircea_popescu: mike_c half tempted to move bitbet on a nz0 basis tbh.
mircea_popescu: in that meta sense : i'm quite happy with it, because it both creates caselaw and casepeople.
mircea_popescu: obviously that 99 btc will be carried on the book until it melts away
mircea_popescu: ThickAsThieves what happens if one month the revenue from closing bets is 1 btc but the house takes in 1k new bets, worth 100 btc
mircea_popescu: ThickAsThieves no ? it's just a floating charge against public share dividents.
mircea_popescu: no because that degrades the dividends owed on the 70% of shares not listed
mircea_popescu: how would teh wise other ppl rectify this problem in the current report ?
mircea_popescu: through my mistake 3.68215306 have gone to the public shareholders instead.
mircea_popescu: this because we still hold 70% of the shares, not yet listed.
mircea_popescu: so : last month bitbet made 3.68215306 btc, which should have gone as follows : 1.104645918 should have gone to the public shareholders, 1.288753571 to kako and 1.288753571 to me.
mircea_popescu: actually : this is a good matter for public consultation.
mircea_popescu: chetty neobee didn't have a lambo. afaik that's bitpay
mircea_popescu: this guy's pretty epic. "i do ixcoin. i think it'll be huge"
mircea_popescu: i mean, obscure band, i can see. you're hoping to hop the solist/celist
mircea_popescu: what the fuck would be going through a weirdo's mind that sported an OHIO tshirt
mircea_popescu: ThickAsThieves expenses aren't really that centralised. i mean which lines ?
mircea_popescu: lurk here, pick one of these that's a good fit for you and run with it. they're like... at LEAST weekly occurences.
mircea_popescu: people are constantly asking "well how to acquire respek and a wot weight". this is *precisely* how
mircea_popescu: ThickAsThieves well if it's house-released it's not the same thing
mircea_popescu: course this probably understates bitbet controlled btc, seeing how if a large chunk is used to make a small payment the remainder is still bitbet's, but anyway
mircea_popescu: anyone bored could make a tool to add up the balances in publicly displayed addies as an open audit thing
mircea_popescu: well i think there's less error here than the average, really
mircea_popescu: soo, someone had pointed out an error with the bitbet dividend last month ?
mircea_popescu: antephialtic he's fine, his investment is for the longest term.
mircea_popescu: for my numerous crimes of having known about various future pops months/weeks in advance, i shall henceforth be known as mp_goldstein
mircea_popescu: "The Bitcoin community will surely learn a number of lessons from the Mt. Gox disaster, and here is a simple one: when investing in Bitcoin, make sure the guy you're trusting with your money doesn't have a secret past committing fraud. Even if that means finding someone who knows French."